LPL Financial Holdings Inc. (LPLA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$5.47	$5.6	+2.4%	—	$4.9B	—
Q4 25	$4.9	$5.23	+6.7%	—	$4.9B	—
Q3 25	$4.49	$5.2	+15.8%	—	$4.6B	—
Q2 25	$4.21	$4.51	+7.1%	—	$3.8B	—
Q1 25	$4.64	$5.15	+11.0%	—	$3.7B	—
Q4 24	$3.96	$4.25	+7.3%	—	$3.5B	—
Q3 24	$3.71	$4.16	+12.1%	—	$3.1B	—
Q2 24	$3.73	$3.88	+4.0%	—	$2.9B	—
Q1 24	$3.82	$4.21	+10.2%	—	$2.8B	—
Q4 23	$3.39	$3.51	+3.5%	—	$2.6B	—
Q3 23	$3.57	$3.74	+4.8%	—	$2.5B	—
Q2 23	$3.88	$3.94	+1.5%	—	$2.5B	—
Q1 23	$4.33	$4.49	+3.7%	—	$2.4B	—
Q4 22	$4	$4.21	+5.2%	—	$2.3B	—
Q3 22	$2.83	$3.13	+10.6%	—	$2.2B	—
Q2 22	$1.97	$2.24	+13.7%	—	$2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$11	—	—	$17B	—
FY24	—	$14.2	—	—	$12.4B	—
FY23	—	$13.9	—	—	$10.1B	—
FY22	—	$10.6	—	—	$8.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$4B	$4.3B	$5.2B	$5.6B	$5.9B	$7.7B	$8.6B	$10.1B	$12.4B	$17B
YoY change	-5.28%	+5.73%	+21.2%	+8.41%	+4.39%	+31.5%	+11.4%	+16.9%	+23.2%	+37.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	4B	4.3B	5.2B	5.6B	5.9B	7.7B	8.6B	10.1B	12.4B	17B
Cost of revenue	3.1B	3.2B	3.7B	4B	4.4B	6B	6.2B	7B	9B	13B
Gross profit	957.7M	1.1B	1.4B	1.6B	1.5B	1.7B	2.4B	3.1B	3.4B	4B
Gross margin	23.7%	25.6%	27.8%	28.7%	25.4%	22.2%	27.5%	30.4%	27.2%	23.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	353.1M	385.3M	456.2M	465.4M	484.1M	621.3M	700M	856.2M	1B	1.6B
Operating expenses	449.7M	481.6M	575.5M	580M	585.1M	752.9M	843.9M	1.1B	1.3B	1.8B
Operating income	394M	494M	717.7M	875M	731.8M	730.1M	1.2B	1.6B	1.7B	1.6B
Operating margin	9.73%	11.5%	13.8%	15.6%	12.5%	9.46%	14.4%	16.2%	13.5%	9.14%
Non-operating income, net	—	-22.4M	—	-3.2M	—	-24.4M	—	—	—	—
Pretax income	297.5M	364.6M	592.6M	741.8M	626.1M	601.3M	1.1B	1.4B	1.4B	1.1B
Income tax	105.6M	125.7M	153.2M	182M	153.4M	141.5M	266M	378.5M	334.3M	286.5M
Net income	191.9M	238.9M	439.5M	559.9M	472.6M	459.9M	845.7M	1.1B	1.1B	863M
Net margin	4.74%	5.58%	8.47%	9.95%	8.05%	5.96%	9.83%	10.6%	8.55%	5.08%
EBITDA	508M	616.4M	865.6M	1B	908.9M	960.8M	1.5B	2B	2.1B	2.2B
EPS	2.15	2.65	4.99	6.78	5.96	5.75	10.6	13.9	14.2	11
Diluted EPS	2.13	2.59	4.85	6.62	5.86	5.63	10.4	13.7	14	10.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.5B	2.6B	2.8B	2.9B	3.1B	3.5B	3.7B	3.8B	4.6B	4.9B	4.9B	5.2B
Cost of revenue	1.8B	1.9B	2B	2.1B	2.2B	2.6B	2.7B	2.8B	3.7B	3.8B	3.7B	3.9B
Gross profit	765.4M	739.2M	794.2M	805.8M	864.3M	905.2M	966.4M	989.5M	898M	1.2B	1.2B	1.3B
Gross margin	30.3%	28%	28%	27.5%	27.8%	25.8%	26.3%	25.8%	19.7%	23.7%	24.8%	24.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	231.3M	228.3M	225.9M	247.2M	278.6M	288.4M	278.7M	321.5M	606.8M	412M	400.8M	422.5M
Operating expenses	307M	294.5M	263.2M	309.7M	338.4M	347.3M	327.4M	372.7M	661.4M	476.8M	465.2M	474.1M
Operating income	366M	348.2M	434.3M	394.4M	415.1M	423.3M	503.1M	474.4M	72.2M	503.2M	584.9M	617M
Operating margin	14.5%	13.2%	15.3%	13.5%	13.4%	12.1%	13.7%	12.4%	1.59%	10.2%	11.8%	11.9%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	317.7M	293.8M	374.2M	330.1M	347.3M	341.3M	417.3M	368.8M	-34.1M	397.6M	484.6M	515.5M
Income tax	93.4M	76.2M	85.4M	86.3M	92M	70.5M	98.7M	95.6M	-4.6M	96.8M	128.2M	136.2M
Net income	224.3M	217.6M	288.8M	243.8M	255.3M	270.7M	318.6M	273.2M	-29.5M	300.7M	356.4M	379.3M
Net margin	8.89%	8.23%	10.2%	8.32%	8.21%	7.71%	8.68%	7.13%	-0.65%	6.1%	7.22%	7.31%
EBITDA	458.4M	444.8M	531M	496M	525.9M	557.9M	639M	616.8M	236.6M	690.5M	757.9M	797.7M
EPS	2.95	2.89	3.87	3.26	3.41	3.62	4.27	3.42	-0.37	3.76	4.45	4.75
Diluted EPS	2.91	2.85	3.83	3.23	3.39	3.59	4.24	3.4	-0.37	3.74	4.43	4.74

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.1B	5.1B	5.4B	7.6B	8.3B	12.8B	17.3B	17.5B	24.4B	28.1B	24.6B
Enterprise value	4.7B	6.8B	7.3B	9.6B	10B	15.3B	19.3B	20.9B	29.1B	34.5B	29.7B
Shares outstanding	89.1M	90M	88.1M	82.6M	79.2M	80M	79.8M	76.8M	74.7M	78.7M	78.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	16.3	21.5	12.2	13.6	17.5	27.9	20.4	16.4	23	32.6	25.1
P/S	0.77	1.2	1.04	1.35	1.41	1.66	2.01	1.74	1.97	1.65	1.29
P/B	3.82	5.33	5.53	7.44	6.28	7.67	7.96	8.41	8.32	5.26	4.32
EV/EBITDA	9.18	11.1	8.48	9.31	11	16	12.7	10.5	13.8	15.8	13.6
EV/Sales	1.15	1.59	1.41	1.72	1.71	1.99	2.25	2.08	2.35	2.03	1.55
Earnings yield	6.12%	4.64%	8.16%	7.35%	5.72%	3.59%	4.9%	6.1%	4.34%	3.07%	3.98%
FCF yield	8.33%	6.64%	8.34%	6.14%	7.68%	1.85%	9.5%	0.63%	-1.17%	-3.49%	29%
PEG	—	—	—	—	—	—	—	—	—	—	0.65

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	23.7%	25.6%	27.8%	28.7%	25.4%	22.2%	27.5%	30.4%	27.2%	23.7%	24.5%
Operating margin	9.73%	11.5%	13.8%	15.6%	12.5%	9.46%	14.4%	16.2%	13.5%	9.14%	11.1%
Net margin	4.74%	5.58%	8.47%	9.95%	8.05%	5.96%	9.83%	10.6%	8.55%	5.08%	5.24%
ROE	23.4%	24.8%	45.1%	54.7%	35.9%	27.5%	39%	51.3%	36.1%	16.1%	18.6%
ROA	3.97%	4.46%	8.02%	9.52%	7.17%	5.75%	8.92%	10.3%	7.95%	4.67%	5.4%
ROIC	10.8%	12.3%	18.2%	21.6%	17.9%	13.3%	22.3%	21.9%	16.5%	9.97%	11%
Return on tangible assets	13.8%	14.3%	28.7%	28.1%	17%	12.1%	15.8%	20%	17.6%	13.2%	13.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.69	1.65	1.59	1.52	1.56	1.63	1.58	1.6	1.62	2.3	2.35
Quick ratio	1.69	1.65	1.59	1.52	1.56	1.63	1.58	1.6	1.62	2.3	2.14
Debt / equity	2.78	2.58	2.54	2.59	1.97	1.83	1.36	1.91	1.96	1.4	1.35
Debt / assets	0.47	0.47	0.45	0.45	0.39	0.38	0.31	0.38	0.43	0.4	0.39
Net debt / EBITDA	3	2.71	2.26	1.96	1.95	2.64	1.35	1.72	2.24	2.91	2.51
Interest coverage	4.08	4.41	5.74	6.71	6.92	6.76	9.81	8.73	6.08	3.85	4.3
Effective tax rate	35.5%	34.5%	25.8%	24.5%	24.5%	23.5%	23.9%	26.2%	24%	24.9%	26.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	45.5	47.6	58.9	68.1	74.1	96.5	107.8	130.9	165.8	215.9	239.9
EPS (basic)	2.15	2.65	4.99	6.78	5.96	5.75	10.6	13.9	14.2	11	11
EPS (diluted)	2.13	2.59	4.85	6.62	5.86	5.63	10.4	13.7	14	10.9	12.5
Book value per share	9.22	10.7	11.1	12.4	16.6	20.9	27.2	27.1	39.2	67.9	72.7
FCF per share	2.93	3.79	5.09	5.66	8.01	2.96	20.5	1.42	-3.81	-12.5	-11.6
Cash per share	8.49	9.14	5.91	7.46	10.3	6.44	11.1	7.05	13.5	14.2	36.1
Capex per share	0	0	0	0	—	—	—	—	—	7.25	8.49

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	0%	0%	0%	—	—	—	—	—	3.36%	3.46%
Capex / operating cash flow	0%	0%	0%	0%	—	—	—	—	—	-138.6%	-269.3%
Payout ratio	46.4%	37.8%	20.1%	14.8%	16.7%	17.4%	9.44%	8.65%	8.48%	10.9%	9.62%
Dividend yield	2.84%	1.76%	1.64%	1.08%	0.96%	0.63%	0.46%	0.53%	0.37%	0.34%	0.38%

Yield

0.38%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.30

ex-dividend Aug 14, 2026

Payout ratio

10%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$0.30
May 21, 2026	$0.30
Mar 10, 2026	$0.30
Nov 13, 2025	$0.30
Aug 15, 2025	$0.30

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.5B	$2.6B	$2.8B	$2.9B	$3.1B	$3.5B	$3.7B	$3.8B	$4.6B	$4.9B	$4.9B	$5.2B
YoY change	+16.6%	+13.3%	+17.2%	+18.8%	+23.2%	+32.9%	+29.6%	+30.8%	+46.4%	+40.4%	+34.6%	+35.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	756.1M	822.5M	520.8M	616.2M	818.4M	514.9M	884.3M	541.8M	1B	1.1B
Receivables	516.3M	540.4M	579.7M	611.6M	502.4M	681.4M	617.8M	638.7M	710.4M	874.1M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	2.5B	2.6B	2.7B	2.9B	3.5B	4.5B	5.7B	5.7B	6.8B	9.2B
Property, plant & equipment	281.4M	306.7M	355.5M	527.6M	576.9M	646M	765M	919M	1.2B	1.5B
Goodwill & intangibles	3.4B	3.7B	3.9B	3.9B	3.8B	4.2B	4.1B	5.1B	7.3B	12B
Total assets	4.8B	5.4B	5.5B	5.9B	6.6B	8B	9.5B	10.4B	13.3B	18.5B
Accounts payable	950.1M	1.1B	1.1B	1.2B	1.9B	2.3B	3.3B	2.9B	2.6B	3.3B
Short-term debt	—	0	0	45M	0	90M	0	280M	1B	79M
Total current liabilities	1.5B	1.6B	1.7B	1.9B	2.2B	2.7B	3.6B	3.6B	4.2B	4B
Long-term debt	2.3B	2.5B	2.5B	2.6B	2.6B	3B	2.9B	3.7B	4.7B	7.4B
Total liabilities	4B	4.4B	4.5B	4.9B	5.3B	6.3B	7.3B	8.3B	10.4B	13.1B
Shareholders' equity	821M	965M	974.1M	1B	1.3B	1.7B	2.2B	2.1B	2.9B	5.3B
Total debt	2.3B	2.5B	2.5B	2.6B	2.6B	3.1B	2.9B	4B	5.7B	7.5B
Net debt	1.5B	1.7B	2B	2.1B	1.8B	2.6B	2.1B	3.5B	4.8B	6.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	835.4M	541.8M	1.1B	1.4B	1.6B	1B	1.4B	4.3B	1.5B	1.1B	1.1B	1.5B
Receivables	622.1M	638.7M	694.7M	638.4M	675.8M	710.4M	726M	840M	859.1M	874.1M	966.5M	1.2B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	5.1B	5.7B	6.2B	6.3B	6.6B	6.8B	7.3B	10.6B	8.8B	9.2B	9.3B	9.9B
Property, plant & equipment	978.4M	919M	1.1B	1.2B	1.3B	1.2B	1.4B	1.4B	1.5B	1.5B	1.7B	1.8B
Goodwill & intangibles	4.8B	5.1B	5.1B	5.3B	5.3B	7.3B	7.6B	7.7B	12B	12B	12.1B	12.2B
Total assets	9.5B	10.4B	11B	11.5B	11.9B	13.3B	14B	17.5B	18B	18.5B	18.8B	19.8B
Accounts payable	2.5B	2.9B	3B	2.6B	2.7B	2.6B	2.8B	2.9B	3B	3.3B	3.2B	3.7B
Short-term debt	412M	280M	401M	—	—	1B	—	—	344M	79M	—	276M
Total current liabilities	3.3B	3.6B	3.9B	3.1B	3.2B	4.2B	3.4B	3.5B	3.9B	4B	3.9B	4.7B
Long-term debt	2.9B	3.7B	3.7B	4.7B	4.7B	4.7B	6B	7.3B	7.4B	7.4B	7.4B	7.4B
Total liabilities	7.4B	8.3B	8.7B	9B	9.2B	10.4B	10.8B	12.4B	13B	13.1B	13.1B	14B
Shareholders' equity	2.1B	2.1B	2.3B	2.5B	2.8B	2.9B	3.1B	5.1B	5B	5.3B	5.7B	5.8B
Total debt	3.4B	4B	4.1B	4.7B	4.7B	5.7B	6B	7.3B	7.7B	7.5B	7.4B	7.7B
Net debt	2.6B	3.5B	3B	3.4B	3.2B	4.8B	4.7B	3.2B	6.4B	6.4B	6.4B	6.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	191.9M	238.9M	439.5M	559.9M	472.6M	459.9M	845.7M	1.1B	1.1B	863M
Depreciation & amortization	114M	122.4M	147.9M	161.1M	177.1M	230.7M	287.4M	354.2M	443.8M	630M
Stock-based compensation	24.9M	28.5M	29.2M	32.9M	34M	44.2M	52.6M	68.7M	91.8M	79.4M
Change in working capital	8.9M	-7.6M	-176.6M	-227.4M	23.8M	-519.3M	657.4M	-1.2B	-1.7B	-2.6B
Operating cash flow	331.1M	368.7M	447.7M	501.1M	676.5M	229.6M	1.8B	261.7M	-175M	-411.4M
Capital expenditure	0	12K	0	0	—	—	—	—	—	-570.4M
Investing cash flow	2.4M	-325.8M	-29.1M	-24.6M	-32M	-242.7M	-69.8M	-456.9M	-1B	-2.4B
Dividends paid	-89.1M	-90.3M	-88.4M	-82.6M	-79.1M	-80.1M	-79.8M	-92.2M	-89.7M	-94.4M
Share repurchases	-25M	-113.7M	-417.9M	-500.4M	-150M	-90M	-325M	-1.1B	-170.1M	-100M
Financing cash flow	-134.2M	-33M	-534.9M	-528.4M	-350.4M	326.9M	-623M	-227.2M	1.4B	3.1B
Net change in cash	199.2M	10M	-116.2M	-51.9M	294.1M	313.8M	1.1B	-422.4M	193.7M	355.3M
Free cash flow	261.3M	341.4M	448.9M	467.5M	634.4M	237.1M	1.6B	109.3M	-284.9M	-981.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	224.3M	217.6M	288.8M	243.8M	255.3M	270.7M	318.6M	273.2M	-29.5M	300.7M	356.4M	379.3M
Depreciation & amortization	92.4M	96.6M	96.7M	101.6M	110.8M	134.6M	135.9M	142.3M	164.4M	187.4M	173M	180.7M
Stock-based compensation	16.5M	16.1M	23.3M	20.6M	21M	26.8M	19.2M	20.3M	19.4M	20.4M	23.1M	23.6M
Change in working capital	-225.6M	-226.7M	-77.5M	-655.6M	-279.5M	-709.5M	-219.6M	-353.6M	-2B	-7M	-409.9M	-371M
Operating cash flow	111.1M	64.1M	343.1M	-262.5M	115.5M	-372.6M	271M	193.3M	-1.7B	785M	290.4M	401.9M
Capital expenditure	—	—	—	—	—	—	—	-137M	-142.2M	-171.7M	-165.8M	-199.4M
Investing cash flow	-61.3M	-95.8M	-8.9M	-117.4M	-34.1M	-859.6M	-78.3M	-248.9M	-1.7B	-251.1M	-309.2M	-302.2M
Dividends paid	-22.8M	-22.6M	-22.4M	-22.4M	-22.4M	-22.5M	-22.4M	-24M	-24M	-24M	-24.1M	-24M
Share repurchases	-250M	-225M	-70M	0	0	-100.1M	-100.2M	240K	0	0	0	-309.5M
Financing cash flow	-158.6M	360.2M	-58.8M	551.5M	-27.8M	923.8M	22.5M	1.4B	316.3M	-302.9M	-132.7M	-78.9M
Net change in cash	-108.8M	328.5M	275.4M	171.7M	53.5M	-308.4M	215.2M	1.3B	-3.1B	231M	-151.5M	20.9M
Free cash flow	78.1M	36.7M	304.9M	-307.8M	62.3M	-344.3M	220.3M	56.3M	-1.9B	613.3M	124.6M	202.5M

LPL Financial Holdings Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement